First National Bank of Groton (OTC:FIGR) Trading Down 8.5% – Here’s What Happened

Shares of The First National Bank of Groton (OTC:FIGR) traded down 8.5% during mid-day trading on Tuesday . The company traded as low as $37.65 and last traded at $38.27. 1,522,648 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 3,630,890 shares. The stock had previously closed at $41.84.

First National Bank of Groton Price Performance

The stock’s 50-day simple moving average is $141.77 and its 200-day simple moving average is $373.86.

Insiders Place Their Bets

In other news, insider David Todd Stevens sold 13,035 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $325,875.00. Following the completion of the transaction, the insider directly owned 612,500 shares of the company’s stock, valued at $15,312,500. This represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director June Ou sold 1,500,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $37,500,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 3,779,066 shares of company stock worth $94,476,650 in the last ninety days.

First National Bank of Groton Company Profile

The First National Bank of Groton offers various banking products and services in New York. The company provides personal checking accounts and personal saving accounts; and business checking, savings, and money market accounts. It also offers personal loans, which includes home mortgage and equity, auto, recreational vehicle, mobile home, and personal home loans.